Well you could think of an ambitious startup like it has a certain runway to take off before it runs out of runway.

In a promising environment, the marginal companies could be grouped in with the most airworthy.

Now if you're barely off the ground, and the going gets rough, the runway means something completely different.

It's good to be in a vehicle that can make it back to a runway to fly again, rather than crash before you can get to some kind of survivable landing.

You can't always be sure of which one you are in or how good the pilot is.

In a threatening environent, the marginal performers could be unfairly grounded, although it could sometimes amount to risk reduction until clearer skies are ahead.

You might need to be careful you don't go to a place that will crash sooner with less warning.